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Same thing that would happen if sanctions on Afghanistan were lifted. Regular people’s lives would improve as the country could import what they need. Cuba is really lacking in cement and medical supplies for example iirc (though their medical system and education is world-class), and they can’t import them cuz of the embargo.
Obviously not much would change in the US, aside from some people realizing socialism isn’t too bad when you’re not a tiny country sanctioned and blockaded by the most war-mongering nation in the world.
Just as capitalist states are “authoritarian” against working class interests, socialist states are “authoritarian” against capitalist interests.
The state is a tool for one class to oppress another. The goal of (most) communists is to transition from capitalism — where the capitalist class is in power — to a stateless, classless communist society via socialism — where the working class is in power.
Public perception of which is more “authoritarian” therefore depends on which class is currently in power and is able to manufacture consent, and that is the capitalist class in the vast majority of the world right now since the USSR’s overthrow.